TC Energy Corporation (NYSE:TRP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $78.50.

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings cut shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, TD Securities reissued a “hold” rating on shares of TC Energy in a research note on Monday, May 4th.

TC Energy Price Performance

TRP stock opened at $70.82 on Friday. The stock has a 50-day moving average price of $64.23 and a two-hundred day moving average price of $59.42. The stock has a market cap of $70.82 billion, a PE ratio of 30.74 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. TC Energy has a 1 year low of $46.29 and a 1 year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same period last year, the business posted $0.95 EPS. Equities analysts forecast that TC Energy will post 2.75 EPS for the current fiscal year.

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a dividend yield of 5.0%. TC Energy’s payout ratio is presently 109.57%.

Institutional Investors Weigh In On TC Energy

Several large investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC bought a new stake in shares of TC Energy during the 1st quarter worth $357,000. Groupe la Francaise lifted its holdings in shares of TC Energy by 2.1% during the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after acquiring an additional 154 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of TC Energy during the 1st quarter worth $55,000. Royal Fund Management LLC lifted its holdings in shares of TC Energy by 2.6% during the 1st quarter. Royal Fund Management LLC now owns 24,984 shares of the pipeline company’s stock worth $1,564,000 after acquiring an additional 636 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of TC Energy by 10.3% during the 1st quarter. Bank of America Corp DE now owns 3,909,668 shares of the pipeline company’s stock worth $244,745,000 after acquiring an additional 364,575 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long?distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.